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XRP Technical Analysis- Do You Want To Invest In Ripple XRP?

XRP community is very eager to see if it will ruled as a security or not, and with SEC’s Chairman, Jay Clayton avoiding to comment the matter becomes tenser. XRP has undergone a rally and the 24-hour change of 4.25% and the price roseto $0.40.

Current price: $0.38

Market Cap: $15.42 billion

Trade Volume: $705.63 million

Ripple Price Analysis Report For 1-Day Trading

Ripple price analysis

  • Uptrend

The uptrend for XRP extends from $0.27 to $0.36  in the larger time frame, but the prices are currently collapsing.

  • Downtrend

The downtrend, on the other hand, extends from $0.90 to $0.39. Similar to the downtrend in the one-hour charts the trend is following the collapse of the prices.

  • Support

The support for XRP in the 1-day chart is set up at $0.26, a new support at $0.36 can be forming at the time of writing.

Indicators That Affect XRP Price

  • Bollinger Band

The Bollinger Bands are expanding after a squeeze period and the prices have decided to touch the lower band and reach out of it, indicating that the prices are oversold for XRP.

  • Aroon

The Aroon indicator shows uptrend has exhausted more in comparison to the downtrend.

Ripple Price Analysis Report For 1-HourTrading

  • Uptrend

XRP prices have seen an uptrend that extends from $0.35 to $0.38 and struggling to reach the previous low of $0.40.

  • Downtrend

The downtrend for XRP extends from $0.50 to $0.40, but the prices have decided to dip further down as indicated in the price chart.

  • Support

The only support for XRP is established at $0.33, as it breached every other support set up previously.

  • Resistance

There are a few Resistance points that XRP has to break to start the next rally. The resistance points from low to high are as follows, $0.40, $0.42, and $0.46.

Indicators That Affect XRP Price

  • Relative Strength Index

The RSI is on a downtrend, indicating that buyers have run out of power, and the sellers are slowly getting into the market.

  • Relative Vigor Index

The RVGI index shows a bearish crossover to the bottom indicating a bearish presence in the market for XRP.

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Summary
Ripple Price Technical Analysis- Do You Want To Invest In Ripple XRP?
Article Name
Ripple Price Technical Analysis- Do You Want To Invest In Ripple XRP?
Description
XRP Ripple Price has seen a rally, 24-hour change of 4.25% and price rose to $0.40. Are you looking to bet on Ripple? Check out the complete price analysis.
Author
Qadir AK
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Coinpedia
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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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